Morgan Stanley Banker Says Timing Not Right for REIT IPOs

Jackson Hsieh, vice chairman at Morgan Stanley, joined for a video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.

In the March/April edition of REIT magazine, Hsieh said that while the market for traditional IPOs is still open, the bar is “very high.”  In the subsequent months the bar for REIT IPOs has only got higher, he noted.

With REIT indexes basically flat, investors aren’t making money on existing floated companies, Hsieh said.

Jackson Hsieh


Lawyer: Portfolio Discounts Holding Back REIT IPOs

Mark Van Deusen, partner with the law firm Hunton & Williams LLP, joined for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.

Van Deusen discussed some of the factors driving the market REIT initial public offerings (IPOs). First, he pointed out that portfolios in REIT IPOs traditionally face a discount. That creates an impediment, Van Deusen said, especially in environments in which capital is flowing into the real estate market from private sources.

Mark Van Deusen